Chennai: For the first time, T Nagar, known as Chennai’s retail hub Diwali sales have plummeted, with footfalls and revenue dropping by nearly 30%. The usually bustling shopping destination, known for its festive crowds, has left traders disappointed and concerned about the future.
Veteran silk entrepreneur Nalli Kuppuswami Chetti, who has witnessed T Nagar’s Diwali rush for decades, noted a stark reduction in customers this year. “The crowds have disappeared,” he lamented. Traders attribute the decline to the convenience of online shopping and the relocation of major retail outlets to suburban areas.
T Nagar Traders Face 30% Revenue Dip as Online, Suburban Retail Gains Ground
Roadworks in the area have further disrupted accessibility, deterring potential buyers. “We were expecting a surge in sales during Diwali, but it’s been a disaster,” said a local trader. “People are opting for online shopping or visiting malls in suburban areas.”
The decline in sales has severely impacted roadside shop owners, who rely heavily on Diwali sales. “We’re struggling to sell our goods at desired prices,” said said a trader Pondy Bazzar. The economic downturn has also affected cracker sales, typically a lucrative business during Diwali.
T Nagar’s unique shopping experience, once a major draw for customers, is losing appeal. Traders fear that the decline in sales may persist in the coming years.
The slump in sales has significant implications for the local economy, with thousands of people dependent on T Nagar’s retail sector. As traders scramble to revamp their strategies, the once-thriving shopping district faces an unprecedented challenge.
